Deere & Company (NYSE:DE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday, November 2nd. The brokerage presently has a $150.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 7.74% from the stock’s current price.
According to Zacks, “Deere expects net sales to grow about 11% year over year and projects net income to be roughly $2.1 billion in fiscal 2017. The company will gain from continued strength in income growth and food demand, growing investment in construction and improvement in Brazil. The pending Wirtgen acquisition will aid Deere’s North America-centric construction business expand to a global scale. Deere will also gain from the recently acquired Blue River Technology. The buyout will bolster its position in precision agriculture. Its estimates have been undergoing positive revisions over the past two months. The company has a positive record of earnings surprises in recent quarters. The stock has outperformed the industry in the last year.”
DE has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) raised shares of Deere & from a “buy” rating to a “conviction-buy” rating and set a $129.75 price objective on the stock in a report on Monday, August 7th. ValuEngine raised shares of Deere & from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BMO Capital Markets reissued a “buy” rating and set a $150.00 target price on shares of Deere & in a research note on Thursday, November 2nd. BidaskClub cut shares of Deere & from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $129.00 target price (down previously from $135.00) on shares of Deere & in a research note on Monday, October 9th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $130.83.
Deere & (NYSE DE) opened at $139.23 on Thursday. Deere & has a 52 week low of $91.84 and a 52 week high of $140.36. The company has a quick ratio of 1.90, a current ratio of 2.10 and a debt-to-equity ratio of 2.76. The firm has a market cap of $43,991.97, a price-to-earnings ratio of 22.93, a PEG ratio of 2.46 and a beta of 0.73.
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In other Deere & news, insider John C. May II sold 22,095 shares of Deere & stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $127.04, for a total transaction of $2,806,948.80. Following the sale, the insider now owns 51,429 shares in the company, valued at $6,533,540.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Max A. Guinn sold 7,174 shares of Deere & stock in a transaction on Friday, October 27th. The stock was sold at an average price of $132.98, for a total transaction of $953,998.52. Following the sale, the insider now owns 49,562 shares in the company, valued at approximately $6,590,754.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,684 shares of company stock worth $13,270,809. 0.75% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in DE. QCI Asset Management Inc. NY raised its holdings in shares of Deere & by 18.8% in the second quarter. QCI Asset Management Inc. NY now owns 950 shares of the industrial products company’s stock valued at $117,000 after buying an additional 150 shares during the last quarter. Guardian Life Insurance Co. of America raised its holdings in shares of Deere & by 1.4% in the first quarter. Guardian Life Insurance Co. of America now owns 1,132 shares of the industrial products company’s stock valued at $123,000 after buying an additional 16 shares during the last quarter. Arrow Financial Corp raised its holdings in shares of Deere & by 5.2% in the second quarter. Arrow Financial Corp now owns 1,010 shares of the industrial products company’s stock valued at $125,000 after buying an additional 50 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in shares of Deere & in the third quarter valued at about $144,000. Finally, Harfst & Associates Inc. raised its holdings in shares of Deere & by 44.2% in the second quarter. Harfst & Associates Inc. now owns 1,175 shares of the industrial products company’s stock valued at $145,000 after buying an additional 360 shares during the last quarter. 67.05% of the stock is owned by institutional investors and hedge funds.
About Deere &
Deere & Company is engaged in equipment operations. The Company is engaged in providing financial services. The Company operates through three business segments: agriculture and turf, construction and forestry, and financial services. The agriculture and turf segment manufactures and distributes a line of agriculture and turf equipment and related service parts.
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